Tuesday, August 19, 2008

Obama's "Tax Plan" Isn't. It Is Really a Welfare Plan

Barack Obama's tax plan is the opposite of supply-side economics. He proposes to raise marginal rates for just about every federal tax. He also proposes a raft of tax credits that taxpayers can receive if they engage in various government-specified activities. Such credits are not tax cuts. Indeed, they should be called The New Tax Welfare.

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